Title 18 — Title 18 — Corporations

- Use of railroad property - Interstate highway system. (a) There is hereby granted to the owners of any telegraph or telephone lines operated in this state the right-of-way over lands and real property in this state, and the right to use public grounds, streets, alleys and highw…

Any utility installation, relocation or crossing of state highway rights-of-way shall be accomplished with prior notification to the Department of Transportation and shall conform to all state laws. Added by Laws 2014, c. 408, § 1, eff. July 1, 2014.

installation information. Any county may send out a one-time request for information regarding the future installation of lines, poles or wires to the owner of any telephone line operated in the public right-of-way of the county road system of the requesting county. Upon receipt …

pursuant thereto. Any option or warrant for the purchase of shares of any domestic corporation heretofore issued by such corporation, although not issued in connection with the allotment of shares or the issuance of bonds or other securities, and any share issued by such corporat…

This act is known and may be cited as the "Professional Entity Act". Added by Laws 1961, p. 204, § 1, emerg. eff. July 26, 1961. Amended by Laws 1995, c. 339, § 1, eff. Nov. 1, 1995.

This act shall be so construed as to effectuate its general purpose of making available to professional persons the benefits of the corporate form for the business aspects of their practices while preserving the established professional aspects of the personal relationship betwee…

A. As used in the Professional Entity Act, unless the context clearly indicates that a different meaning is intended: 1. “Associated act” means the Oklahoma General Corporation Act, in the case of a corporation; the Uniform Limited Partnership Act of 2010, in the case of a limite…

A professional entity may be formed or qualified to render professional services by filing the appropriate instrument required by the associated act with the Secretary of State. The individual or individuals forming a domestic professional entity or qualifying a foreign professio…

The respective associated act shall be applicable to each professional entity, and each professional entity shall enjoy the powers and privileges and be subject to the duties, restrictions, and liabilities of other similarly situated business entities, except where inconsistent w…

A professional entity may be formed for the purpose of rendering one specific type of professional service or related professional services and services ancillary thereto and shall not engage in any business other than rendering the professional service or services which it was o…

The name of every domestic professional entity shall end with one or more of the words or abbreviations permitted in the applicable associated acts; provided, that such words or abbreviations shall be modified by the word “professional” or some abbreviation of the combination, wi…

The principal office of the professional business entity shall be designated by street address in the formation or qualification instrument and shall not be changed without amendment of the formation or qualification instrument. Added by Laws 1961, p. 205, § 8, emerg. eff. July 2…

Except as provided in Section 815 of this title, no person shall hold an interest in a domestic professional entity including a domestic professional entity that owns a domestic professional entity rendering professional service who is not duly licensed or otherwise permitted in …

Every manager of a domestic professional entity responsible for the professional services or related professional services rendered by the professional entity in this state shall be duly licensed or otherwise permitted in accordance with the provisions of this state’s licensing l…

and agents. A domestic professional entity may render professional services in this state only through its owners, managers, employees and agents who are duly licensed or otherwise permitted in accordance with the provisions of this state’s licensing laws to render professional s…

This act does not alter any law applicable to the relationship between a person rendering professional services and a person receiving such services, including liability arising out of such professional services. Laws 1961, p. 206, § 12.

Subject to the provisions of Section 819 of this title, nothing in this act shall restrict or limit in any manner the authority and duty of the regulating boards for the licensing of individual persons rendering professional services or the practice of the profession which is wit…

No professional entity may do any act which is prohibited to be done by individual persons licensed to practice a profession which the professional entity is organized to render. Added by Laws 1961, p. 206, § 14, emerg. eff. July 26, 1961. Amended by Laws 1981, c. 312, § 8, eff. …

shareholder - Withdrawal. A. 1. If the domestic professional entity is a corporation, the certificate of incorporation, bylaws or other agreement may provide for the purchase or redemption of the shares of any shareholder upon the death, incapacity, disqualification or ending of …

This act shall not apply to any persons within this state who prior to the passage of this act were permitted to organize a corporation and perform professional services by the means of such corporation, and this act shall not apply to any corporation organized by such persons pr…

The regulating boards of the respective professions described in Section 803 of this title are hereby authorized and directed to issue the certificates required by Section 804 of this title upon receipt of an affidavit or other instrument reciting the names and addresses of the p…

All laws and rules and parts of laws and rules in conflict with any of the provisions of the Professional Entity Act or otherwise restricting the forms of organization available to persons providing professional services shall be inapplicable to professional entities formed under…

districts - Exemption from taxation and assessments. A corporation organized not for profit pursuant to the provisions of the Oklahoma General Corporation Act for the purpose of developing and providing rural water supply and sewage disposal facilities to serve rural residents sh…

The Legislature finds that nonprofit corporations serve important functions in providing services and assistance to persons in the state and that in order for these nonprofit corporations to function effectively, persons serving on the board of directors should not be subject to …

A. Except as otherwise provided by this section, no member of the board of directors of a nonprofit corporation that holds a valid exemption from federal income taxation issued pursuant to Section 501(a) of the Internal Revenue Code (26 U.S.C. Section 501(a)) or Section 528 of th…

In addition to the immunity provisions of Section 866 of Title 18 of the Oklahoma Statutes, no member of the board of directors of a nonprofit corporation shall be personally liable to the corporation, or members thereof, for monetary damages for breach of fiduciary duty as a dir…

counties - Issuance of indebtedness - Exemption from taxation. A. A corporation organized not for profit pursuant to the provisions of the Oklahoma General Corporation Act and that holds a valid exemption from federal income taxation issued pursuant to Section 501(a) of the Inter…

This act shall be known and may be cited as the "Oklahoma Business Development Corporation Act". Laws 1970, c. 187, § 1, emerg. eff. April 13, 1970.

As used in this act, unless a different meaning is required by the context, the following words and phrases shall have the following meanings: (1) "Corporation" means the Oklahoma Business Development Corporation created under the provisions of this act. (2) "Financial institutio…

A business development corporation may be incorporated in this state pursuant to the provisions of this act and all the provisions of the Oklahoma General Corporation Act not in conflict with or inconsistent with the provisions of this act shall apply to such corporation except a…

To accomplish its purposes, the corporation shall, subject to the restrictions and limitations herein contained, have the following powers: (1) To elect, appoint, and employ officers, agents and employees and to make contracts and incur liabilities for any of the purposes of the …

Minimum capital stock. (1) Notwithstanding any other provision of law, any person, corporation, public utility, financial institution, or labor union, may acquire, hold, sell, assign, transfer, mortgage, pledge, or otherwise dispose of any bonds, notes, debentures, securities, or…

(1) All financial institutions as defined herein are hereby authorized to become members of the corporation and to make loans to the corporation as provided herein. (2) Any financial institution may request membership in the coporation by making application to the board of direct…

The business and affairs of a corporation shall be conducted by a board of directors. The number of directors shall be a multiple of three with a minimum of fifteen and a maximum of twenty-one. Two- thirds of the directors shall be elected by the members, and one- third shall be …

Each stockholder shall be entitled to one vote, in person or by proxy, for each share of capital stock held, and each member shall be entitled to one vote, in person or by proxy, for each One Thousand Dollars ($1,000.00) of the outstanding loan limit of each member. Laws 1970, c.…

Each year the corporation shall set apart as earned surplus not less than ten percent (10%) of its net earnings for the preceding fiscal year until such surplus shall be equal in value to one-half of the amount paid in on the capital stock then outstanding. Whenever the amount of…

No corporation organized under the provisions of this act shall at any time be authorized to receive money on deposit. The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by a vote of a majority…

No amendment to the certificate of incorporation shall be made which increases the obligation of a member to make loans to the corporation or which makes any change in the principal amount, interest rate, maturity date, or in the security or credit position of any outstanding loa…

Such corporation shall be subject to an annual examination and audit by one or more certified public accountants to be selected by the board of directors, sufficient to reflect the result of the operations during and the condition of the corporation at the end of the fiscal year.…

A. It is hereby declared to be the public policy of this state and shall be the prohibition of this act that, notwithstanding the provisions of Section 5 of this act, no foreign corporation shall be formed or licensed under the Oklahoma General Corporation Act for the purpose of …

A. Any license issued after June 1, 1971, under the Oklahoma Business Corporation Act to a foreign corporation for the purpose of engaging in farming or ranching or for the purpose of owning or leasing any interest in land to be used in the business of farming or ranching shall b…

corporation - Exemptions - Dissolution of corporation. A. No corporation organized for a purpose other than farming or ranching shall own, lease or hold, directly or indirectly, agricultural lands in excess of that amount reasonably necessary to carry out its business purpose. B.…

The provisions of Section 951 et seq. of this title shall not apply where a corporation, either domestic or foreign: 1. Engages in research and/or feeding arrangements or operations concerned with the feeding of livestock or poultry, but only to the extent of such research and/or…

nursery stock. The provisions of Sections 951 through 956 of Title 18 of the Oklahoma Statutes shall not apply if a corporation, partnership, limited liability company, or other legal entity, either domestic or foreign engages in the production of nursery stock, as defined in Sec…

A. No person, corporation, association or any other entity shall engage in farming or ranching, or own or lease any interest in land to be used in the business of farming or ranching, except the following: 1. Natural persons and the estates of such persons; 2. Trustees of trusts;…

A. Any resident of the county in which the land is situated, who is of legal age, may initiate an action in the district court in the county wherein the land is situated for the divestment of an interest in land held in violation of Section 1 of this act. If such action is succes…